This April Fools Joke Ends With a 25% Loss for Crypto Investors

by Marco Stracke

On April 1, Juicebox’s relate material manager perceived to private announced that the Ethereum-based mostly crowdfunding platform had secured a spurious $69 million funding spherical supported by the crypto mission capital company Paradigm.

Nonetheless, it became later printed to be an April Fools’ Day prank, causing JBX speculators to incur losses exceeding 20%.

JuiceBox’s April Fools’ Day Amusing narrative

The news broke by a put up on X by pseudonymous narrative Briliegh.eth, which has since been made non-public. The put up claimed that JuiceBox had secured a funding spherical, expressing gratitude to the backers and supporters for their role in the purported fulfillment.


— Spreek (@spreekaway) April 1, 2024

“Proud to mutter our $69M fundraise!” the put up stated. Despite no longer explicitly naming any investors, an connected describe that contains Paradigm strongly implied their involvement in the funding.

Following the announcement, JuiceBox’s native token JBX surged better than 40%, reaching $0.0043, in accordance with CoinGecko records. Nonetheless, the celebration became short-lived, and an hour later, Briliegh.eth confessed that it became all a prank. “Cheerful April Fools’ day y’all!” the put up exclaimed, cautioning speculators in opposition to buying JBX tokens in anticipation of monetary gains.

The contemporary revelation caused a decline in JBX mark, with the token’s cost plummeting by 25% to $0.0033.

The aftermath of the prank stirred up backlash from diverse X customers. Based completely on Screenshots of the preliminary announcement shared on X by @spreekaway, one user stated, “What even became presupposed to be the shaggy dog narrative here?” whereas one other exclaimed, “Penal advanced.”

Extra Crypto April Fools Pranks

In a identical incident, decentralized tech stack Waves experienced a temporary 5% kind bigger in mark after its pseudonymous founder “Sasha,” announced a spurious integration with AI, easiest to close to previous ranges quickly after. Some customers criticized the shaggy dog narrative, likening it to market manipulation.

On a lighter display camouflage, April Fools noticed David Hoffman, a outstanding Ethereum maximalist and Bankless co-host, mutter his spurious departure from the ETH ecosystem to affix forces with Austin Federa and Yakovenko at the Solana Basis.

Unhappy to mutter that my time at @BanklessHQ has close to a close😢

But, the Bankless mission light burns in my heart♥

In pursuit of that mission, I’m getting into into VP of Decentralization at the Solana Basis!

Stoked to work with @aeyakovenko & @Austin_Federa on Solana!

— DavidHoffman.eth/acc🦇🔊 (@TrustlessState) April 1, 2024

Hoffman joked about changing into the “VP of Decentralization,” poking fun at the in vogue criticism that Solana isn’t as decentralized as Ethereum. Given his historical previous of advocating for Ethereum, the announcement left many amused in choice to outraged.


It’s $303m of outflow

— BitMEX Be taught (@BitMEXResearch) April 1, 2024

BitMEX Be taught also playfully recommended that Grayscale Bitcoin ETF experienced no outflows, poking fun at the plenty of outflows GBTC had viewed in fresh weeks. They later clarified in a apply-up put up that the true outflow became $303 million on April 1.

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